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Woolmark in the black, but R&D leaves red faces at AWS
2 Nov 2004
Australian Wool Services, the parent company of Woolmark, recorded a loss of $5 million in the year to June 2004. This follows a loss of more than $6 million in 2003, and is the third loss in a row for AWS. Managing director Peter Wilkinson said structural problems within the company, mainly spending $20 million on research and development, exacerbated the loss. Wilkinson said the Woolmark brand itself continues to be moderately profitable, and that overall AWS was on track to make a profit in this financial year. Wilkinson said wool growers will need to make up their minds how much money should be invested in research and development and marketing.
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